Workday, Inc. (NASDAQ:WDAY) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lowered its position in Workday, Inc. (NASDAQ:WDAY) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,850 shares of the software maker’s stock after selling 351 shares during the quarter. Magnetar Financial LLC’s holdings in Workday were worth $477,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after buying an additional 480,459 shares in the last quarter. State Street Corp increased its position in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after purchasing an additional 76,618 shares during the last quarter. Parnassus Investments LLC increased its position in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after purchasing an additional 14,159 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $241.33, for a total value of $1,809,975.00. Following the completion of the sale, the director now owns 75,000 shares in the company, valued at $18,099,750. This represents a 9.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 71,672 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 473,001 shares of company stock worth $120,614,400 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Down 0.4 %

Shares of NASDAQ:WDAY opened at $249.49 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market cap of $66.36 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm has a 50 day simple moving average of $256.76 and a 200 day simple moving average of $255.11.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Redburn Atlantic began coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. BMO Capital Markets boosted their price objective on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. KeyCorp upped their price target on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Barclays reduced their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.